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Skill mismatch: an issue of worldwide concern according to the World Economic Forum

The World Economic Forum has just published a paper on the issue of skill mismatch, to which Cedefop contributed substantially.

The economic crisis has caused a worrying increase in unemployment and underemployment in many advanced, emerging and developing countries. Yet, many employers still report difficulties in finding the required talent.

Employers tend to attribute these perceived shortages to skill deficits among job applicants. However, they are often explained by other factors, such as geographical mismatch between skill supply and demand, poor working conditions and inefficient or stringent human-resource practices.

Skill mismatch, whatever its cause, represents a significant loss of investment in people and has important economic and well-being costs for enterprises and individuals. Consequently, closer scrutiny of all of the problems of matching skills to labour market needs has started.